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    2060MW Shuaibah 2 Solar PV Project


    December 1, 2022 - Al Bawaba Business

     

      Scope of Work:

      Construction of 2060MW Shuaibah 2 Solar PV Project.

      Description:

      The Public Investment Fund (PIF), Saudi Arabia announced in a statement regarding the signing a power purchase agreement (PPA) of Shuaibah 2 Solar PV Plant, with the Saudi Power Procurement Company (SPPC). The Project location is in Shuaibah, Western region of Saudi Arabia. The project will be jointly owned by Badeel (a PIF Company) and ACWA Power. Each company will hold a 50% equity stake through the establishment of Shuaibah Two Electrical Energy Company, a joint company dedicated to the development of the project.

      The project has recorded the cost for Solar PV electricity production of USD 1.792 cents/kwh. This is the largest facility of its kind in the Middle East to date. The project is expected to achieve commercial operation by Q4 2025. Badeel and ACWA Power will build, own, and operate Al Shuaibah 2 facility and the electricity produced will be sold to SPPC. When complete, it will power 350,000 homes. The project marks an important milestone for NREP that was initiated by MoE and aims to develop 70% of the nations renewable energy through PIF by 2030.

      Offtaker:

      Saudi Power Procurement Company (SPPC)

      ZIP Code:13342-6274

      2929-Al Aarid - Unit Number:68

      Riyadh,Saudi Arabia

      Tel-Fax: 920011867

      https://www.spb.com.sa/ Project completion date : 2025-12-31 12:00:00 Major organization : PUBLIC INVESTMENT FUND (PIF)

      Address : 4044 Al Imam Saud Ibn Abdul Aziz Branch Rd, An Nakheel, Riyadh 12382

      Country :Saudi Arabia Url : https://www.pif.gov.sa/

      Financier address : Other Owner:

      ACWA POWER COMPANY

      Building 1, Ground Floor,Business Gate Office Complex,Airport Road,P.O. Box 22616 Riyadh-11416

      Saudi Arabia

      Tel : +966 11 2835555

      Fax : +966 11 2835500

      https://acwapower.com/

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